All categories

2 years ago

32. What is a predatory financial service?

Business

1 answer:

Tresset [83]2 years ago

8 0

<h2>Answer:</h2>

<h3>Predatory lending typically refers to lending practices that impose unfair,selective, or abusive loan term on borrowers.</h3>

<h2>Explanation:</h2>

<h3>#Carry On Learning</h3>

You might be interested in

Elaine takes out a $100,000 mortgage on December 1, 1997. Elaine will repay the mortgage over 20 years with level monthly paymen

Dmitrij [34]

Answer:

I prepared an amortization schedule using an excel spreadsheet. The original monthly payment was $836.44. After the 120th payment, the remaining principal balance was $68,940.64. Since she didn't pay anything for 1 year, the new principal balance will be $68,940.64 x (1 + 8%) = $74,455.89

I prepared another amortization schedule for the remaining 9 years, and the monthly payment is $969.32. She will pay off the loan in 108 months.

Download pdf

8 0

3 years ago

Orlando, the manager of a camera store, believes that his store may be closed by corporate in the near future, so he cannot slee

olya-2409 [2.1K]

Orlando is experiencing panic.

He is panicking because of his anxiety that is caused by his beliefs that the place that he works might be closed soon. When an individual is experiencing chronic anxiety it can manifests in irrational behaviors or affecting the mind in a way that made it difficult for the individual to function effectively in his or her daily life, which we can see is happening with Orlando as described in the question.

3 0

3 years ago

Your uncle has $375,000 and wants to retire. He expects to live for another 25 years and to earn 7.5% on his invested funds. How

Alex777 [14]

Answer:

d. $33,641.50

Explanation:

In this question, we use the PMT formula which is shown in the spreadsheet.

The NPER represents the time period.

Given that,

Present value = $375,000

Future value = $0

Rate of interest = 7.5%

NPER = 25 years

The formula is shown below:

= -PMT(Rate;NPER;PV;FV;type)

So, after solving this, the answer would be $33,641.50

5 0

3 years ago

Tanner-UNF Corporation acquired as a long-term investment $170 million of 6% bonds, dated July 1, on July 1, 2013. Company manag

Neporo4naja [7]

Answer:

1) The Investment would be classified as Held-to-maturity securities

2) Journal Entries (in millions)

Debit Investment $170 Credit Bank $140 Credit Discount on investment $30

3) Debit Bank $5.1 Debit Discount on investment $0.5 Credit Interest Income $5.6

4) Debit Fair Value loss $20 Credit Investment $20

5) The investment will be reported at the fair value of $150,000

6) Debit Bank $120 Debit Discount on Investment $29.5 Loss on Investment $0.5 Credit Investment $150,000

Explanation:

Interest = investment * semiannual interest

6%/2 = 3%

8%/2 = 4%

Bank = $170,000,000*3% = $5,100,000

Interest income = $140,000,000*4%= $5,600,000

Fair Value $150

cost $170

Fair Value Loss = $20

4 0

3 years ago

Toby is purchasing a $15 cake for their mother's birthday.

miss Akunina [59]

Toby should use his debit card. he should use his debit card because it’s only 15 dollars which is not an expensive amount. using his debit card would keep the payments he has to make on his credit card lower

7 0

2 years ago